3M Company (NYSE:MMM) Receives $171.17 Consensus Target Price from Brokerages

3M Company (NYSE:MMM) has received an average rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $171.1667.

MMM has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated coverage on 3M in a research report on Tuesday. They set an “underperform” rating and a $131.00 target price on the stock. Citigroup dropped their target price on 3M from $175.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Barclays decreased their price target on 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. HSBC upped their price objective on shares of 3M from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 1st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of 3M in the fourth quarter worth $28,000. Westside Investment Management Inc. grew its holdings in 3M by 77.4% in the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 106 shares during the period. EQ Wealth Advisors LLC purchased a new position in 3M during the fourth quarter worth approximately $40,000. Cornerstone Planning Group LLC boosted its holdings in shares of 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 71 shares during the last quarter. Finally, Sfam LLC acquired a new position in shares of 3M in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Down 1.7%

Shares of NYSE MMM opened at $153.69 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.59 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $148.78 and its two-hundred day moving average is $157.28. 3M has a 52-week low of $139.34 and a 52-week high of $177.41. The firm has a market cap of $80.16 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.22 and a beta of 1.03.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Research analysts predict that 3M will post 8.7 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, May 22nd. 3M’s dividend payout ratio (DPR) is presently 60.12%.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).